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Marlboro extends long-standing Ferrari deal
United States cigarette and tobacco giant Philip Morris International has agreed a three-year extension to its long-running sponsorship deal with Formula One motor racing team Ferrari, according to Bloomberg. Ferrari team principal Maurizio Arrivabene told the news agency that Philip Morris extended the sponsorship through 2018 at a board meeting more than a year ago without making a public announcement. In July 2011, Philip Morris signed a three-year renewal covering the 2013 to 2015 F1 seasons in a deal reportedly worth $300m (269.3m). The partnership represents one of the most inconspicuous sponsorships in sport, with advertising laws meaning Philip Morris hasn’t displayed its...
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